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| I work in sales and receive a base salary plus quarterly bonuses. It seems that my bonuses take a higher tax hit versus my wages. I've asked for clarification and have received conflicting ... |
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| wat other options are available for tax exemption other than section 80c(upto 1 lakh).I have already have 1lakh exemption for LIC premium+housing loan premium(section 80c).What other options are ... |
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 If you make any money in 2007, can you file taxes in 2008? |
i've only worked since september.. so do i file taxes or no.. and plus i have taxes i can file provided by my college
Additional Details
well ok.. i got paid 1798 because i just ... |
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| What would taxes be in the US on a substantial (maybe $40,000) gift of cash made to someone? Would both the giver and recipient be charged taxes or penalties?... |
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 Renting our UK property out and moving overseas. TAX ? |
Hi my husband and I are moving to Australia in December and we are going to rent out our property we have been told we would have to pay Tax on the rental income.
1. If we only get enough to ... |
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| Im a single mother with one chlid and made only 8,200 this year and turbo tax is telling me im only getting? |
back $453and I dont qualfy foe EIC for my one child does that sound right Im sure I should get more then that back with all of the new tax refunds
Additional Details
Thanks for all of ... |
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Filipos P | If I buy stock and sell it in a few months (before a year's time), how much tax will I pay on my gains? |
I live in the state of Maryland.
As an example: I purchased $775 with of stock a few days ago and sold it for $1100 today. How much tax will I pay on this gain? Note that I make around $11,000 this year from my job. |
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rajas203
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Seems you are well below the low end of the taxable income.. SO you wouldn't pay any tax.. |
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acmeraven
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Are you single or married filing joint or what. If you are single you are only going to owe federal tax on the amount over $ 8,950 and the first 10K or so of that will be at the ten per cent rate; so if the above your total tax picture your tax would be a max of $ 235.00; and if you are between age 25 and 65 you will get EIC to reduce that. Now to the really important thing in this whole scene; how in heck did you buy stock and sell it for a profit???????? |
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Judy1
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It depends on your tax bracket. If you are single, not a dependent, and don't have any dependents, you are most likely in a 10% bracket, so each additional dollar of taxable income costs you 10% in taxes. Your gain of $325 would cost $32.50 for federal income tax and around $7 for MD. |
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Steve
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The gains will be taxed as ordinary income. |
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prescientone
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You would have a short term capital gain...which is taxed as ordinary income, but you may pay no tax based on your total income |
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v b
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This will be ordinary income, just like a bonus on a paycheck.
So if your income is 11,000 and you make 325 from the sale, your income goes to 11325. If you are single, no dependents, you are in the 10% tax bracket, so your tax bill goes up $32. |
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Ed Atun
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You will pay the exact same percentage as you pay on your regular salary. If you are in a 20% tax bracket, you will pay 20%. $65 tax. |
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Jss
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You will report all the stock sales on schedule D (Form 1040). The profit is short term capital gain (if you sell stock within 1 year). It is taxed as your ordinary income.
So your total income becomes $11325. |
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Ben R
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Probably nothing your earnings are WELL below the poverty line. |
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